TomCrown
Bitcoin Outflows, Mirroring Sept 2021?
Just a few hours ago, a massive outflow from Binance of $1B worth of BTC was seen. Exchange reserve's dropped to a new yearly low, and LTF price action began trending bullish. A similar outflow was seen in Sept 2021 before finding support and rallying to a new all time high $69,000. However, its important to note: Sept DID see further downside before reversing after the massive outflow of BTC from exchange. It is exciting to see such a large qty of BTC leave exchange as price nearly missed Sept's low of 39600, coming within 1% of this price point. Will Bitcoin again rally to a new ATH? I believe this is the probable outcome over the course of the next few weeks/months.